1) Do Not Make an Emotional Car Purchase
Do your homework. Think logically. Make a pros/cons sheet for each and every car. Chances are, if you fall in love with a car, you will be willing to pay any price for that car. Unfortunately, an emotional decision like this may not get you the car you really need or can afford. You should first write down all the things you want out of a car. Then
compare multiple cars side by side to see which ones best fit your needs and wants.
2) Focus on the Full Price, Not Monthly Payments
Your montly payment can be adjusted to fit your needs regardless of the price by adjusting the loan from 32 months to 72 months or more. Therefore, focus your efforts in negotiation on the ‘out-the-door' price of the car. Every car salesman will know the term ‘out-the-door' price, which means the final cost of the vehicle. Use that term always.
3) Do Not Accept MSRP
Unfortunately many people accept the MSRP as the price of a vehicle-because they do not realize you can negotiate a car price. Your best research friend is the True Internet Price (T.I.P.) which tells you the average car transaction in your market area.
4) Take a Test Drive
But remember not to make it an emotional experience-in other words do not get caught up in the moment of a brand new car.
5) Don't Focus on the Deal
A lot of car dealerships and manufacturers offer attractive deals for cars that are not selling. However the deal should never be your starting point. The deal or rebate should come in to play when you have narrowed down your potential cars to at least 4 or 5. At this point the extra savings are very meaningful to what you need.
6) Do Not Rely Solely on the Manufacturer for Information
You have to take the responsibility to do your own car research before you enter the dealership. Especially with safety and reliability-make sure you get a third party opinion of the car-and you do not solely use Toyota.com or the official website of the car you want. Use car research guides to help you get an objective opinion.
7) Keep a Paper Trail of Your Trade-In
Do research on how much your trade in is worth at kbb.com and when you bring your current car to the dealership write down the math so you can see it on paper. In rare instances (but it happens common enough to give fair warning) some salesmen will try and cheat you out of your trade in with tricky math figures.
8) Not Necessary to Load on Options
In many cases, extended warranties do not provide more converge than the standard warranty. And even if the extended warranty will place a warranty on your car for more years, you can always buy extended warranties later.
9) Know Your Credit Score
And know what kind of rates you can expect before you enter the dealership!
10) Stay Updated on Industry News
The RockSolid Car Price blog offers car industry news-and more importantly-how it affects the consumer's wallet. Bookmark this blog now.